BabyDoge Surges 120% In A Week, Holders Surpass Shiba Inu

BabyDoge BABYDOGE/USD has extended a two-week rally to hit a price of $0.000000003813 even as other Dogecoin DOGE/USD inspired cryptocurrencies have seen their prices decline.

What Happened: In the last 24 hours, BABYDOGE surged 23% and had a trading volume of $96.5 million.

The meme-based cryptocurrency has surged by 120% over the past week and 144% over a 14-day period.

As of Friday morning, BABYDOGE had 1.15 million holders, surpassing Shiba Inu SHIB/USD in terms of total holders.

Why It Matters: Most meme-based cryptocurrency tokens have seen their price appreciate significantly driven by enthusiasm from a growing community of users.

In November 2021, Shiba Inu saw its price surge after hitting an important milestone of 1 million users.

It appears the crowd momentum has now shifted toward this smaller-cap meme coin, as Dogecoin and Shiba Inu have seen their prices slump in the last few weeks.

According to data from LunarCrush, Dogecoin’s social dominance was down by 18.3% while its volatility was up by 188% in the last week.

Bearish sentiment surrounding DOGE also saw a 73% increase in the last week alone.

Meanwhile, SHIB saw a 0.4% increase in social volume, and bearish sentiment around the coin was down 16.4% over the same period.